Xin Lang Cai Jing·2025-11-28 09:23Group 1 - The bond market showed signs of recovery today, with the 10-year government bond yield declining by over 1 basis point, although Vanke's bonds remained highly volatile [1][3] - The closing prices for government bond futures varied, with the 30-year main contract up by 0.05%, and the 10-year main contract up by 0.03% [1] - The yields on major interbank bonds decreased across the board, with the 10-year government bond yield down by 1.25 basis points to 1.8315% [1][3] Group 2 - Vanke's bonds experienced significant fluctuations, with "23 Vanke 01" dropping over 58%, "22 Vanke 06" down over 48%, and "22 Vanke 04" down over 40% [2] - The market sentiment remains cautious due to mixed factors, including the pending implementation of new fund fee regulations and Vanke's unexpected bond extension event, which negatively impacted overall market sentiment [3] - The People's Bank of China conducted a reverse repurchase operation of 301.3 billion yuan at a fixed rate of 1.40%, maintaining liquidity in the market [3]